American Electric Power Company, Inc. (NASDAQ:AEP) Shares Sold by Summit Financial Strategies Inc.

Summit Financial Strategies Inc. trimmed its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 2.0% during the third quarter, Holdings Channel reports. The firm owned 4,928 shares of the company’s stock after selling 100 shares during the quarter. Summit Financial Strategies Inc.’s holdings in American Electric Power were worth $506,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. HHM Wealth Advisors LLC increased its position in shares of American Electric Power by 57.2% during the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock worth $25,000 after acquiring an additional 103 shares during the period. E Fund Management Co. Ltd. increased its holdings in American Electric Power by 2.0% in the second quarter. E Fund Management Co. Ltd. now owns 5,286 shares of the company’s stock valued at $464,000 after buying an additional 105 shares during the last quarter. Bank of Stockton increased its holdings in American Electric Power by 2.2% in the second quarter. Bank of Stockton now owns 5,062 shares of the company’s stock valued at $444,000 after buying an additional 111 shares during the last quarter. First United Bank & Trust increased its holdings in American Electric Power by 17.1% in the third quarter. First United Bank & Trust now owns 766 shares of the company’s stock valued at $79,000 after buying an additional 112 shares during the last quarter. Finally, Richardson Financial Services Inc. increased its holdings in American Electric Power by 3.9% in the first quarter. Richardson Financial Services Inc. now owns 3,084 shares of the company’s stock valued at $266,000 after buying an additional 115 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.

American Electric Power Stock Performance

AEP traded down $0.18 on Thursday, hitting $101.14. 313,042 shares of the company’s stock were exchanged, compared to its average volume of 3,131,142. The firm has a market cap of $53.31 billion, a PE ratio of 18.80, a P/E/G ratio of 2.79 and a beta of 0.54. American Electric Power Company, Inc. has a twelve month low of $72.01 and a twelve month high of $105.18. The stock has a fifty day moving average of $100.31 and a two-hundred day moving average of $93.12. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.53.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.02. American Electric Power had a net margin of 13.52% and a return on equity of 11.31%. The firm had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same quarter in the prior year, the business earned $1.13 earnings per share. American Electric Power’s quarterly revenue was up 4.5% on a year-over-year basis. On average, research analysts anticipate that American Electric Power Company, Inc. will post 5.6 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were given a $0.88 dividend. The ex-dividend date was Friday, August 9th. This represents a $3.52 annualized dividend and a dividend yield of 3.48%. American Electric Power’s dividend payout ratio (DPR) is presently 65.31%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on AEP shares. Wells Fargo & Company raised their price objective on American Electric Power from $98.00 to $104.00 and gave the stock an “equal weight” rating in a report on Wednesday. JPMorgan Chase & Co. lifted their price objective on American Electric Power from $101.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Guggenheim lifted their price objective on American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Barclays boosted their price target on American Electric Power from $96.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Finally, Scotiabank lifted their price objective on American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $98.14.

American Electric Power Profile

American Electric Power Company, Inc, an electric public utility holding company, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers in the United States. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.